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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Warehouses
2179 Hillshire Cir Memphis, TN 38133-6074
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1772177
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
11,658 SF
Lot
1.97 ac (85,683 SF)
Zoning code
EMP
APN
089-028- -B-00091
UPID
US80-1772177
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gant Systems (Memphis) Tech Support Center IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$661k
Blend (final)
Blend
$715k
Owner & transaction history
Gs Property Management LLC · 3 yrs held
Gs Property Management LLC
since 2022
Last sale
$825,000
3 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+66.5%
Apartment house (5+ units)
$1.0M
+52.8%
Retail stores
$965,000
+42.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Memphis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Memphis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$655,000
ML approach
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$680,000
Current use
AUTO REPAIR, GARAGE
$1,130,000
Change: +66% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,035,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$965,000
Change: +42% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$855,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $825k (Aug 24 2022)
Last sale anchor
$825k
Aug 24 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$61 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$15,480
Tax year 2022
Assessed value
$254,120
Assessed 2023
Previous assessed
$254,120
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$76,040
Assessed improvement
$178,080
Land market value
$190,100
Improvement market value
$445,200
Total market value
$635,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
11,658 SF
Lot
1.97 ac (85,683 SF)
Zoning code
EMP
APN
089-028- -B-00091
UPID
US80-1772177
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Memphis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$680,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
RETAIL STORES
Est. value
$965,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$855,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
Gs Property Management LLC
Entity
Mailing address
1180 LK WOOD CV, COLLIERVILLE, TN 38017-3251
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2025
—
Gs Property Management LLC
—
Deed
related
$323,040 · Paragon Bank
Aug 24, 2022
$825,000
Gs Property Management LLC
Pedernal Properties LLC
Special Warranty Deed
$701,250 · Paragon Bank
Dec 31, 2012
—
Pedernal Properties LLC
Flintco LLC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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